This paper empirically examines the direct and indirect effect of role democracy, and, in turn, oil dependence volatility on governmental expenditure exporting countries. To achieve this aim, we apply a panel Vector Auto-Regressive (PVAR) model along with impulse response functions from period 1983 to 2016. The findings show that quality political institutions, it is observed democratic countri...

<abstract> <p>The companies' investment and financing policies are dynamically interrelated there is no general consensus about the direction of this relationship. There theoretical arguments empirical evidence supporting both possible directions, which makes panel vector autoregressive models an appropriate tool. However, financial ratios normally used to assess relationship empiri...

In this paper a Bayesian approach to unit root testing for panel data models is proposed based on the comparison of stationary autoregressive models with and without individual deterministic trends, with their counterpart models with a unit autoregressive root. This is done under cross-sectional dependence among the units of the panel. Simulation experiments are conducted with the aim to assess...

This paper considers estimation and inference in panel vector autoregressions (PVARs) with fixed effects when the time dimension of the panel is finite, and the cross-sectional dimension is large. A Maximum Likelihood (ML) estimator based on a transformed likelihood function is proposed and shown to be consistent and asymptotically normally distributed irrespective of the unit root and cointegr...

Recently, there has been a renewed interest in modeling economic time series by vector autoregressive moving-average models. However, this class of models has been unpopular in practice because of estimation problems and the complexity of the identification stage. These disadvantages could have led to the dominant use of vector autoregressive models in macroeconomic research. In this paper, sev...

Ecological efficiency (EE) provides much reference for formulating appropriate regional economic, social and environmental policies to promote sustainable development. Interactive subsystems of economy, society environment within EE system have been considered in this paper. By innovatively integrating the merits two advanced economic research methods (global super network data envelopment anal...

Aortic stenosis (AS) is the most common valvular heart disease in western countries. Because of the ageing population, AS is being an increasing health problem with sizeable economic impact. AS is a gradually progressive disease, characterized by a long asymptomatic phase, lasting several decades, followed by a shorter symptomatic phase associated with severe narrowing of the orifice of the aor...

The aim of this paper is to investigate whether oil revenues in the MENA region lead economic growth or resource curse evident. To do so we employ a panel Vector Auto-Regressive (PVAR) model comprising not only and but also government expenditures. latter variable considered as examine revenue leads via fiscal policy channel. We further assess heterogeneous findings exist depending on quality p...